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Law Firm Leadership and Communications
Confronted by increased competition and changes in the way expense conscious corporate clients procure legal services, law firms are responding by building capacity ' increasing their size through aggressive lateral hiring and acquisition. It is an appropriate response; driven by the market perception that in order to compete today for global corporate business, it is imperative that the modern law firm be large enough to handle both commoditized work as well as provide high end counsel, deep enough to handle any and all matters that a company may face, and streamlined enough to take advantage of technological and other economies of scale. But the myriad of market-based arguments that enable the creation of these large partnerships with hundreds of partners beg the question: 'Now that we've built the infrastructure, how do we truly distinguish ourselves in a manner that actually confirms these assumptions and secures the business?'
Perception Is King
The answer lies in recognizing that large law firms are perceived within two paradigms, simultaneously. First is from the traditional perspective of the professional service practitioner, who provides competent advice and counsel based upon a specific area of expertise, underlined by personal reputation. For many, this remains the dominant conception, with many lawyers acting within the law firm partnership as if they were solo practitioners or small boutiques sharing office space. In a sense, this is the perspective of the lawyer who chooses to operate within a structure of convenience ' a structure jettisoned when the risk/reward ratio becomes unfavorable.
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